• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

IMF Conditionality Series: Gov’t told to double benefits of LEAP; safeguard benefits against inflation

2 years ago
in Business, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
135
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

IMF Conditionality Series: Gov’t told to double benefits of LEAP; safeguard benefits against inflation

The International Monetary Fund (IMF) has called upon the Government of Ghana to take significant measures to strengthen its social protection system. Specifically, the IMF has urged Ghana to double the level of benefits provided by its targeted cash transfer program, the Living Empowerment Against Poverty (LEAP).

Additionally, the IMF has recommended the introduction of an indexation mechanism to protect the value of LEAP benefits from erosion due to inflation. These recommendations aim to address the persistent issue of poverty and inequality in Ghana and ensure that the benefits of social protection reach the intended beneficiaries.

Doubling LEAP Benefits to Tackle Poverty:

Recognizing the need for a comprehensive approach to poverty reduction, the IMF has emphasized the importance of doubling the benefits provided by LEAP. The targeted cash transfer program aims to alleviate poverty by providing direct financial assistance to vulnerable households.

By increasing the level of benefits, Ghana can enhance the effectiveness of LEAP in addressing poverty and improving the welfare of its citizens. This measure aligns with the government’s commitment to achieving the Sustainable Development Goals (SDGs) and reducing poverty rates.

Safeguarding Benefits through Indexation:

RelatedPosts

Cocoa Marketing Company (CMC) Secures Major Win for Ghana at the Annual Cocoa Freight Negotiation Conference in Rouen, France

UEFA Champions League: Five Exciting Fixtures to Keep an Eye on

BoG 2nd Deputy Governor Urges Firms to Move Beyond Tokenism in Promoting Women to Leadership Roles

In addition to doubling LEAP benefits, the IMF has recommended the implementation of an indexation mechanism. This mechanism would ensure that the value of benefits is not eroded by inflation over time. By linking the benefits to a predetermined index, such as the Consumer Price Index (CPI), Ghana can protect the purchasing power of LEAP recipients and maintain the program’s impact in the face of rising prices.

The introduction of an indexation mechanism demonstrates the IMF’s emphasis on ensuring the long-term sustainability and effectiveness of social protection programs.

Risks of Political Patronage:

While the proposal to double LEAP benefits is aimed at improving the social protection system, the IMF has cautioned against the risks of political patronage. One of the concerns raised is the possibility of the social protection program not reaching the actual target population due to political interference.

To ensure the effectiveness of the program, it is crucial to safeguard it against manipulation and ensure that the benefits are allocated based on objective and transparent criteria. The IMF’s emphasis on accountability and targeting mechanisms highlights the need to mitigate potential risks associated with political interests.

Benefits of Enhanced Social Protection:

Enhancing social protection through the doubling of LEAP benefits and the introduction of an indexation mechanism can yield several positive outcomes for Ghana. Firstly, it can help reduce poverty levels and promote inclusivity by providing direct financial assistance to vulnerable households.

This, in turn, can contribute to social stability and economic growth. Secondly, an improved social protection system can alleviate the burden on other public services, such as healthcare and education, by addressing the underlying causes of poverty. Lastly, it can foster social cohesion and reduce inequalities by ensuring that the most disadvantaged members of society receive adequate support.

The IMF’s call for Ghana to enhance its social protection system through the doubling of LEAP benefits and the introduction of an indexation mechanism underscores the significance of addressing poverty and inequality in the country. By implementing these recommendations, Ghana can bolster its efforts to achieve the SDGs, reduce poverty rates, and improve the overall well-being of its citizens.

However, it is essential to carefully manage potential risks, such as political patronage, through transparent targeting mechanisms and robust accountability frameworks. As Ghana moves towards strengthening its social protection system, it has an opportunity to create a more inclusive and prosperous society for all.

Tags: IMF Conditionality SeriesIMF Conditionality Series: Gov't told to double benefits of LEAP; safeguard benefits against inflationinflationleap
No Result
View All Result

Highlights

Market Activity Slows as Prime Index Marginally Edges Higher to 7,340.08 Points

US Open: Sinner Advances as Gauff and Swiatek Struggle

Unemployment Rate Falls to 13.1% but Youth Joblessness Remains Acute, Says GSS

Chamber of Mines Calls for Special Purpose Vehicle to Fund Western Corridor Railway Development

African Debt and Climate Change: How the ICJ’s Vanuatu Ruling Could be Used for Broader Justice

European Leagues Defend Plans to Stage Matches Abroad Amid EU Criticism

Trending

Agribusiness

Cocoa Marketing Company (CMC) Secures Major Win for Ghana at the Annual Cocoa Freight Negotiation Conference in Rouen, France

August 29, 2025

Cocoa Marketing Company (CMC) Secures Major Win for Ghana at the Annual Cocoa Freight Negotiation Conference in...

UEFA Champions League: Five Exciting Fixtures to Keep an Eye on

August 29, 2025

BoG 2nd Deputy Governor Urges Firms to Move Beyond Tokenism in Promoting Women to Leadership Roles

August 29, 2025

Market Activity Slows as Prime Index Marginally Edges Higher to 7,340.08 Points

August 29, 2025

US Open: Sinner Advances as Gauff and Swiatek Struggle

August 29, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.